ThatBritGuy:

This is basically a class-led land-grab similar to the Enclosures in the UK and the Clearances in Scotland, but making a claim on the productive economy instead of physical territory.

bingo. the consumer economy is tapped out, and there's nothing to take its place.

planet couldn't take it this way for long anyway.

i heard an italian economist say today that all greece's profitable industries are registered and pay taxes in the netherlands, wtf?

nothing else but yoghurt and tourism, according to him...

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

This is also very similar to the situation in the US in the 1890s with the Robber Barons, the labour conflicts of 1893 (Eugene Debs) etc.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

Luckily, there is a strong intellectual argument, supported by solid technical analysis and factual understanding, that is being used to drive a popular social movement to reverse the trend, which will lead to a changed political environment and suitable adjustments to the overall system.

Not.